Sep, 30, 2022 — DEPARTMENT OF COMMERCE FEDERAL CREDIT UNION is a federal credit union headquartered in WASHINGTON, DC with 3 branch locations and about $838.55 million in total assets. Opened 59 years ago in 1964, DEPARTMENT OF COMMERCE FEDERAL CREDIT UNION has about 30,001 members and employs 103 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | DEPARTMENT OF COMMERCE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1401 Constitution Ave NW Rm B-0038A WASHINGTON, DC 20230-0001 |
| Phone: | (202) 808-3600 |
| Fax: | (202) 482-4317 |
| Website: | https://www.docfcu.org |
| Branches: | 3 branch locations |
| Members: | 30,001 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 16410 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1964 |
| Last Audited: | Mar 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $838,554,675 |
| CEO/Manager: | Evan Clark |
| Chairperson: | James Boney |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,526,124 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 457,704,770 |
| Unsecured Loans | 183,528,209 |
| Other Loans | 102,258,794 |
| TOTAL LOANS | 743,491,773 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,320,101 |
| Land And Building | 0 |
| Other Fixed Assets | 1,517,199 |
| NCUSIF Deposit | 4,381,549 |
| All Other Assets | 0 |
| TOTAL ASSETS | 838,554,675 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 43,655,000 |
| Accounts Payable & Other Liabilities | 19,080,873 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 8,400,000 |
| Share Drafts | 101,526,950 |
| Regular shares | 121,539,362 |
| All Other Shares & Deposits | 480,363,914 |
| TOTAL SHARES & DEPOSITS | 703,430,226 |
| TOTAL LIABILITIES | 774,566,099 |
| Regular Reserve | 0 |
| Other Reserves | 5,169,473 |
| Undivided Earnings | 58,819,103 |
| TOTAL EQUITY | 63,988,576 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 838,554,675 |
| INCOME & EXPENSE | |
| Loan Income | 21,525,987 |
| Investment Income | 989,343 |
| Other Income | 1,158,606 |
| Total Employee Compensation & Benefits | 9,933,415 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 7,581,015 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,497,699 |
| Cost of Funds | 6,418,251 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 20,682,012 |
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